Seeking standalone Early Critical Illness 'multipay' plan, what are the best insurers and key factors to consider?

Hi there, you might want to consider a limited pay wholelife with CI coverage or an AXA term plan that is running a 40% discount till 20th dec 2022. Its hard to tell which options are best suited for you, its best to request for a personalised comparison decide from there. Here's the link to the term comparison chart: https://plannerbee.co/best-term-life-insurance-...

I am in my mid 40s and also checking out CI plan. I use MoneyOwl to compare different policies. Haven't committed to anything but it is a useful tool. Check it out. https://www.moneyowl.com.sg/app/direct You can express your interest and a financial advisor (salaried with no commission) will contact you. This is good because the advice is neutral. I'm a normal everyday customer and not paid to say this. :)

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Standalone CI plan usually comes as a Rider in term plans. I've learned from MoneyOwl articles that CI plan is supposed to cover your income loss during the period when you're unable to work. For the period of coverage, I think until 70 years old is good enough because by right, one would have already retired and can use some CPF at this point.

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For the amount (I was advised annual income x 4/5). So if your income is $50,000 annually, you can choose a plan with coverage of $200,000-250,000. That's the recommended amount but if you have savings/investments that you can tap on during a long illness, I feel that maybe this amount can be reduced so you are able to afford the premium for the next 20 years. Sufficient coverage and not overly expensive plans is what MoneyOwl advocates. I think this makes a lot of sense to me.

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Best advice is to go to different advisors representing different insurance companies for comparison as they have the tools to generate the

I think it's not very cost effective for ur age wspecially if u need large coverage. You might be better off self-insuring